Mobico Group Plc (GB:MCG) has released an update.
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Mobico Group PLC reports revenue growth of 12.2% despite profitability challenges from inflationary pressures and reduced Covid subsidies. Adjusted Operating Profit fell by 14.5% due to cost increases, and a statutory operating loss was reported. The company is focusing on restructuring and cost-saving initiatives to improve future profitability. ALSA, the Spanish subsidiary, had a record year contributing significantly to revenues, while efforts are underway to negotiate contract improvements in German Rail. The company remains confident in its recovery strategy and long-term growth.
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